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I can’t believe it.. Mortgage interest rates have hit a new low. I keep abreast of real estate news as well as mortgage news and this article perked my ears.

I was checking out one of my favorite news sites and bam! There it is. Mortgage rates have dropped to a new historic low. What’s that mean? Well in my opinion, a few different things.

The FED is trying anything and everything to get the stalled housing market moving. Without new jobs, it’s going to be a slow recovery but this certainly helps bring in buyers from the fence.
Sellers, this may be the best time to sell your home in the foreseeable feature. Sure prices are down across the nation and buyers are slim and few far between, but with interest rates at this level you will be able to monopolize on what buyers are out there.
As a buyer, you can get more home for your money. In the past few decades there has not been an opportunity like this. You can get more home for your money and pay less to own it.

I realize that jobs are scareace as well, but if you have any sort of down payment saved up or maybe you got a raise at work, this is a stellar time to buy a new home.

 

Check out the Market Watch article with the new mortgage rate info.

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